Allianz Egypt life premium portfolio at $111.8 mln in FY18

German insurer Allianz earned premium revenue worth 2 billion Egyptian pounds ($111.8 million) from its Egyptian life insurance portfolio during the 2017-2018 financial year, an official said Sunday.

Allianz Egypt, part of the German group, is seeking to expand in marketing its products through its bank branches and upgrade its technological infrastructure, Ayman Hegazy, managing director of Allianz Life Assurance – Egypt, told Amwal Al Ghad.

“We are planning to start talks with the Egyptian market regulator to launch a new microfinance product designed to cover damages resulting in business interruption as a result of injury,” Hegazy said.